Cambrex Q4 Profit Tops Estimates; Sales Up 14% - Quick Facts

(RTTNews) - Cambrex Corp. (CBM) reported that its fourth-quarter GAAP EPS from continuing operations increased 117% to $1.15 from $0.53 in the same quarter last year. Adjusted EPS increased 22% to $1.23 compared to $1.01 in the same quarter last year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.05 for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter sales were $178.7 million, compared to $156.9 million in the same period last year, a 14% increase. Foreign exchange had a negligible effect on sales. The company said the sales increase primarily reflects higher volumes partially offset by lower pricing. The increase in volumes was primarily due to higher sales of certain branded APIs and clinical phase products partially offset by a decrease in generic APIs. Analysts expected revenue of $175.07 million for the quarter.

The company's current expectations for full year 2017 includes: net revenues increase in a range of 7% - 11%; adjusted EBITDA of $168 - $174 million; and adjusted income from continuing operations per share of $2.94 - $3.06. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.97.